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Chana futures down on profit-booking

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Press Trust of India New Delhi

Chana futures prices moved down by Rs 10 to Rs 2,622 per quintal today as speculators booked profits at high levels, driven by sluggish spot demand.

Increased arrivals from producing belts also put pressure on chana futures prices.

At the Multi Commodity Exchange, chana for July delivery fell by Rs 10, or 0.38%, to Rs 2,622 per quintal, with an open interest of 2,33,580 lots. 

The June contract declined by Rs 6, or 0.23%, to Rs 2,550 per quintal, with a business volume of 78,260 lots.

Traders said besides profit booking by speculators, sluggish demand at the spot market against adequate stocks mainly led to fall in chana futures prices.

 

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First Published: Jun 14 2011 | 2:23 PM IST

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